HYBE founder Bang Si Hyuk is under investigation for alleged financial fraud as the Financial Supervisory Service (FSS) probes claims he misled investors to sell shares to a private equity fund linked to his close associate.
Search and seizure warrants are being executed on multiple fronts at HYBE. A warrant specific to Bang Si Hyuk’s alleged misconduct is also pending.
Meanwhile, former BigHit Communications Director Elly Chae Eun reignited controversy by revealing her painful experience at HYBE. Fired in 2017, she exposed toxic practices and corporate greed on her Threads account.
Elly Chae Eun:
“It was normal to get work instructions through KakaoTalk or phone calls in the middle of the night. I used to sleep with my phone next to me all the time. I lost 7kg over two years after joining the company and even had symptoms of hair loss. I poured my heart into my work, taking care of the company’s male idols — ‘sons of others’ — rather than my own precious children.”
She called out officials who "came in" after BTS for swooping in on shareholders’ stocks cheaply and benefiting without contributing during tough times.
Elly Chae Eun:
“I sincerely congratulated the BTS members when they were given shares and became wealthy. They absolutely deserved everything they achieved — those seven were the beginning of HYBE itself. But the ones who later swooped in and devoured shareholders’ stocks at cheap prices, who went behind people’s backs… people who played golf with corporate cards, lounged in luxury rooms, drank alcohol — they are the real evil ones. Truly evil.”
Documents she shared detail how HYBE’s top executives received massive performance bonuses following the IPO, with Chairman Bang reportedly collecting about 400 billion KRW, including a 200 billion KRW lump sum from Eastone PE.
Elly vows to fight quietly but firmly through legal channels.
HYBE’s shares have already taken a hit since the investigation news broke. The situation is rapidly developing.
Stay tuned for more updates on Bang Si Hyuk’s financial probe and HYBE’s internal turmoil.
